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Genworth Nixes Mortgage Insurance IPO, Citing 'Volatility'

Monday, May 24 2021
Lending
Written by  The Mortgage Leader

Genworth has postponed the planned initial public offering of its mortgage insurance subsidiary, Enact Holdings, according to a press release.

Genworth2“In light of the recent significant trading volatility in the mortgage insurance sector, Genworth’s board of directors determined that current market pricing for the planned offering does not accurately reflect Enact’s value,” Genworth CEO Tom McInerney said in the release.

McInerney added that the board “will continue to evaluate our options as market conditions develop.”

Read the full press release. 

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